Someone posted that US Patriot Act Is Causing Delay In SI Payouts.
quote:
I had researched this when getting paid from another program that
I
> was with, and expected the same to happen here, but I did not want
> to post this until I saw for sure that this was being done.
> I can now tell you this, since SI VIP has actually referred to
this
> I feel that I can now freely make this point.
> The way SI has to make these payments -- because of Patriot Act
> provisions, is that they have to run an Escrow Account and open an
> Escrow case for each payment over a certain amount. They can no
> longer just wire money, or even just pay these large sums out
> without going through an Escrow Account.
> The reason I am pointing this out is , that I do believe that by
now
> SI has set up the paper request for all the payments and as far as
> they are concerned all the payments are made, since it is now up
to
> the bank and the Escrow Company they are using to conclude these
> contracts -- Whenever the Escrow Company completes the paperwork
for
> a payment, then the money is paid into the Escrow Account and they
> then will do a Bank Wire or procede with any other payment type
that
> was set up for that particular payment.
> SO in essence SI has paid once they have all requested payment
> paperwork in Escrow and therefore they can procede with taking the
> site live.
>
> THere might be some payments that cannot be made until after they
> get more instructions from the member owning that account, and
this
> can only happen after the site is up.
>
> THere is a lot of paperwork that needs to be generated to do these
> payments and a lot of members to pay, so you will not be getting
> payment on the 8th like some people who do not understand the
> procedure is posting on a couple forums. We will see payments
being
> done for the rest of the month, and then even into next month
before
> everyone is paid.
>
> I do believe this is one of the factors that is making SI pull the
> SP -- because it is just too large of a job to do this for so many
> members every month and that would always put them into this
> position -- with the movement of the smaller amounts they will be
> able to just move money directly to e-bullion or bank accounts
> without this requirement for large sums, and only the VIP's will
be
> dealing with large sums, but they should know how the system works
> and be patient until they get their money.
>
> Anyway -- the real thing we can blame here is the Patriot Act,
> because before this SI would be able to sent Bank wires directly
> from their accounts.
>
> Another thing that the routing through Escrow does is to keep the
> Privacy of SI bank accounts so that there is no records of which
> account the money came from, therefore they don't have members who
> will jump to conclusion and start filing against them be able to
> have any records as to where SI has it's accounts. This is good
and
> protects all our money from those who would crush SI given the
> chance.
>
> Well just info for you.
unquote:
pinetree
>
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09-08-2006, 12:16 AM #1
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Patriot Act Causing Delay SI Payments
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pinetree
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09-08-2006, 12:26 AM #2
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Its Over, Give It Up.
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09-08-2006, 02:06 AM #3
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Yes, give it up Pinetree!
If SI was a legitimate company, all the angles would have been figure out by now and the potential problems would have been anticipated.
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09-08-2006, 03:02 AM #4
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We've had the Patriot Act since 2001 and life goes on..What about the tens of thousands of accounts that don't have escrow accounts? And what's preventing SI from communicating? Surely Sam Collins understands the critical importance of disseminating vital information at this time? Alternate explanations are fine when they make sense, however,
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09-08-2006, 05:53 AM #5
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Yes, It`s over, my advice for you just give it up.
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09-08-2006, 06:15 AM #6
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Sorry, I Can not Give It Up
The Reason Why I Keep Posting
-----------------------------------------------------------------------
I wil tell you guys the main reason why I am posting whatever "positive" or "encouraging" info from other forums is that I would like to prevent another "tragedy" to happen in connection with SI. A couple of month ago, a shocking incidence was reported in PSGXtreme Forum that a young single mother committed a suicide leaving two kids because of so many negative posts and irresponsible attacks against a reputable program after its website temporarily disappeared for some technical reasons. The young mother was so depressed and became so hopeless by reading tons of "negative" omments and opinions aginst the dissapeared program and decided to end her life by herself BEFORE THE PROGRAM FINALLY COME BACK. A good news is that many members of the program(unknown to me) offered to raise funds to open account for her two kids who are now with one of her friend family. I DO NOT WANT THIS TO HAPPEN WITH SI. I will keep posting whatever positive news or info.on SI as long as there is even 1% chance SI will be back. I believe if there is a hope, even a slightest one, nobody will terminate one`s life prematurely, especially if she or he has the loved ones.
pinetreeARE YOU INTERESTED TO BECOME a"limited partner" to the growth of MC Inc. and V-Lane Traffic?
* MC Inc. (MARVCorp Inc.), is becoming the biggest media advertising platform existing on the World Wide Web
* MC Inc. / V-Lane Traffic is a full service media and advertising agency.
--------------------
FOR MORE INFO,JUST PM.
pinetree
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09-08-2006, 07:15 AM #7
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pinetree, I want to thank you for standing strong & continuing to post the positive things that you are doing. I'm in full agreement about keeping positive as long as there's even just a 1% chance that SI will be back.
Apparently the negative-posting people won't read what you've posted as to WHY you keep on with the positive, but those of us who DO read, understand & thank you. We need to keep up the hopes of those who really are relying on the income from SI, & I believe that they'll continue to hold on as long as there's someone who can identify with them.
I, for one, do feel for their positions & can understand how hard it is, especially with little ones to care for. You just keep right on researching & posting those positive items & we'll keep on helping those who need a hand up. Good man!!
mistymornimg
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09-08-2006, 09:15 AM #8
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ARE YOU INTERESTED TO BECOME a"limited partner" to the growth of MC Inc. and V-Lane Traffic?
* MC Inc. (MARVCorp Inc.), is becoming the biggest media advertising platform existing on the World Wide Web
* MC Inc. / V-Lane Traffic is a full service media and advertising agency.
--------------------
FOR MORE INFO,JUST PM.
pinetree
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09-08-2006, 09:46 AM #9
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I'm not in SI but I don't see anything wrong with keeping hopes up. I've been keeping mine up for PIPS for a year now. I don't know if it's going to come back, and I'm not going to be mega-disappointed if it doesn't (I've already accepted the loss), but a bit of optimism doesn't go amiss.
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09-08-2006, 03:53 PM #10
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Frankly and morally your attitude is greater than SI ever was.is etc, that is refreshing. The rest of the neg. comments are what is found to dominate the people that really scam others thru problem businesses. They give up and run with the money, because they can't see anything positive to do for their clients. Negative posting stinks,,neg thinking well that is something else, but let other people hope. Tha's a good thing.
Thanks PinetreeLast edited by Preston; 09-08-2006 at 03:56 PM. Reason: spelling
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